Zacks Investment Research upgraded shares of WageWorks Inc. (NYSE:WAGE) from a sell rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $81.00 price target on the stock.

According to Zacks, “WageWorks, Inc. is an on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits, or CDBs, in the United States. The Company administers and operates an array of CDBs, including spending account management programs, such as health and dependent care flexible spending accounts, health savings accounts, health reimbursement arrangements and commuter benefits, such as transit and parking programs. The Company delivers its CDB programs through a benefits-as-a-service delivery model. WageWorks, Inc. is headquartered in San Mateo, California. “

Other equities research analysts have also recently issued reports about the stock. JMP Securities boosted their price target on shares of WageWorks from $60.00 to $70.00 and gave the stock a market outperform rating in a research report on Wednesday, August 10th. Needham & Company LLC reissued a buy rating and set a $74.00 price target (up from $65.00) on shares of WageWorks in a research report on Thursday, November 10th. Finally, William Blair reissued an outperform rating and set a $67.20 price target on shares of WageWorks in a research report on Thursday, November 10th. Eight research analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and a consensus price target of $69.60.

Shares of WageWorks (NYSE:WAGE) traded down 0.21% during midday trading on Wednesday, hitting $72.65. The stock had a trading volume of 69,448 shares. The company’s 50 day moving average price is $61.73 and its 200-day moving average price is $60.03. The firm has a market capitalization of $2.66 billion, a PE ratio of 129.73 and a beta of 0.95. WageWorks has a 1-year low of $38.99 and a 1-year high of $75.28.

WageWorks (NYSE:WAGE) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. WageWorks had a net margin of 5.98% and a return on equity of 9.09%. The firm had revenue of $88.90 million for the quarter. During the same period last year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts predict that WageWorks will post $1.38 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Columbia Wanger Asset Management LLC purchased a new stake in shares of WageWorks during the second quarter worth about $60,595,000. Riverbridge Partners LLC bought a new position in WageWorks during the third quarter valued at $26,706,000. Lord Abbett & CO. LLC boosted its position in WageWorks by 75.7% in the second quarter. Lord Abbett & CO. LLC now owns 948,642 shares of the company’s stock valued at $56,738,000 after buying an additional 408,754 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in WageWorks during the second quarter valued at $24,311,000. Finally, BlackRock Fund Advisors boosted its position in WageWorks by 8.5% in the third quarter. BlackRock Fund Advisors now owns 2,538,128 shares of the company’s stock valued at $154,597,000 after buying an additional 199,060 shares in the last quarter.

About WageWorks

WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act and other employee benefits.

5 Day Chart for NYSE:WAGE

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